(1) The accounts of every co-operative society shall, at least once in each co-operative year, be audited at the expense of the cooperative society by the Registrar or by an audit officer appointed or authorised by him in this behalf by general or special order in writing from among the officers under his administrative control or from the panel of auditors prepared by him for this purpose.
(2) (a) The Registrar shall draw up an audit programme (including appointment of audit officers, issue of appointment letters to audit officers and intimation of such appointment to the co-operative society) not later than the thirtieth day of June of each calendar year.
(b) An audit officer appointed under clause (a) shall complete the audit not later than the thirty-first day of March of the calendar year next following.
(c) If the audit officer appointed under clause (a) does not take up the audit within three months from the date of his appointment, his appointment shall stand cancelled and the Registrar shall appoint another audit officer in his place.
(3) Every co-operative society shall send to the Registrar within the thirtieth day of September of each calendar year an annual return consisting of a cash account, a profit and loss account, a balance sheet and a trading account (where applicable) in the prescribed form.
(4) The Registrar shall not appoint the same audit officer to audit the accounts of the same co-operative society for two or more successive co-operative years:
Provided that when the audit of the accounts of any co-operative society is in arrear for two years or more, an audit officer may be entrusted by the Registrar to audit the accounts of the co-operative society for all such co-operative years.
(5) If, at the time of audit, the audit officer finds that the accounts of the co-operative society are not complete, he shall report the matter to the Registrar. The Registrar or, with his approval, the audit officer may cause the accounts to be completed at the expense of the cooperative society.
(6) An audit under sub-section (1) shall include examination of overdue debts (if any), verification of cash balance and securities and valuation of assets and liabilities of a co-operative society and such other matters as may be prescribed.
(7) The audited statement of accounts of a co-operative society together with the modifications, if any, made therein by the Registrar shall be final and binding on the co-operative society.
Audit of accounts of co-operative society.
363 The West Bengal Co-operative Societies Act, 1983.
[West Ben. Act (Chapter X.—Audit, inspection and inquiry.— Sections 91, 92.)
Audit officer's report.
Inspection by Registrar or financing bank.
(8) An audit under sub-section (1) shall include annual audit, running audit and re-audit.
Explanation.—(i) "Annual audit" shall mean audit of accounts of a co-operative society for each co-operative year.
(ii) "Running audit" shall mean audit of the accounts of a co-operative society within a co-operative year on monthly or quarterly basis as the Registrar may decide.
(iii) "Re-audit" shall mean audit of the accounts of a co-operative society for checking up the quality or standard of any previous audit.
The co-operative society shall pay for every annual audit, running audit or re-audit such audit fee in such manner as may be prescribed.